- Specialist mortgage lender said to be for sale
- Owner Investec backs the England cricket team
- At least three other bidders said to be in competition
The broadcaster said that the two buyout shops are expected to bid for Kensington, which is owned by Anglo-South African banking group Investec, which sponsors the England cricket team, by the end of May.
According to the Sky News report, Blackstone and TPG are understood to be competing against at least three other bidders, one of which is said to be Lonestar, a specialist U.S. property investor. Other bidders for the business are reported to have included Goldman Sachs, Virgin Money and Metro Bank, although at least two of them are understood no longer to be involved, Sky News said.
Blackstone and TPG could not be reached for comment.
Aashika Jain is a correspondent for Reuters in Bangalore.